Skyward Specialty Insurance Group, Inc. (NASDAQ:SKWD) Receives $56.25 Average Price Target from Analysts

Skyward Specialty Insurance Group, Inc. (NASDAQ:SKWD) has been given an average rating of “Moderate Buy” by the eleven research firms that are covering the firm, Marketbeat reports. Four investment analysts have rated the stock with a hold recommendation, six have issued a buy recommendation and one has issued a strong buy recommendation on the company. The average 12 month price target among brokers that have updated their coverage on the stock in the last year is $57.00.

Several analysts have recently commented on SKWD shares. Piper Sandler decreased their target price on Skyward Specialty Insurance Group from $58.00 to $57.00 and set an “overweight” rating for the company in a research report on Thursday, February 6th. Jefferies Financial Group lowered Skyward Specialty Insurance Group from a “buy” rating to a “hold” rating and decreased their price objective for the stock from $62.00 to $59.00 in a research report on Friday. Barclays lifted their target price on Skyward Specialty Insurance Group from $63.00 to $64.00 and gave the company an “overweight” rating in a research note on Friday. Keefe, Bruyette & Woods reduced their price target on shares of Skyward Specialty Insurance Group from $62.00 to $57.00 and set an “outperform” rating for the company in a research report on Wednesday. Finally, JMP Securities reaffirmed a “market outperform” rating and set a $60.00 price objective on shares of Skyward Specialty Insurance Group in a research report on Monday, February 10th.

Skyward Specialty Insurance Group Stock Performance

NASDAQ:SKWD opened at $52.53 on Monday. Skyward Specialty Insurance Group has a 1 year low of $33.27 and a 1 year high of $55.62. The business has a fifty day moving average of $50.56 and a 200-day moving average of $48.50. The stock has a market cap of $2.12 billion, a price-to-earnings ratio of 16.02, a PEG ratio of 0.81 and a beta of 0.63.

Skyward Specialty Insurance Group (NASDAQ:SKWD) last issued its quarterly earnings results on Tuesday, February 25th. The company reported $0.80 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.77 by $0.03. Skyward Specialty Insurance Group had a return on equity of 16.39% and a net margin of 12.24%. The company had revenue of $304.40 million for the quarter, compared to analysts’ expectations of $295.56 million. On average, equities research analysts predict that Skyward Specialty Insurance Group will post 3.05 EPS for the current year.

Insider Activity at Skyward Specialty Insurance Group

In other news, insider John A. Burkhart III sold 4,832 shares of the stock in a transaction dated Thursday, March 6th. The stock was sold at an average price of $50.24, for a total transaction of $242,759.68. Following the transaction, the insider now owns 17,655 shares of the company’s stock, valued at approximately $886,987.20. This represents a 21.49 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, Director Gena L. Ashe sold 1,000 shares of the company’s stock in a transaction on Thursday, March 6th. The stock was sold at an average price of $50.62, for a total transaction of $50,620.00. Following the sale, the director now directly owns 734 shares of the company’s stock, valued at approximately $37,155.08. This represents a 57.67 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 12,132 shares of company stock valued at $620,476. 8.01% of the stock is currently owned by corporate insiders.

Hedge Funds Weigh In On Skyward Specialty Insurance Group

A number of institutional investors have recently made changes to their positions in SKWD. Zurcher Kantonalbank Zurich Cantonalbank grew its holdings in Skyward Specialty Insurance Group by 19.4% in the 3rd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 6,727 shares of the company’s stock valued at $274,000 after buying an additional 1,095 shares during the last quarter. IHT Wealth Management LLC boosted its position in shares of Skyward Specialty Insurance Group by 4.6% in the third quarter. IHT Wealth Management LLC now owns 10,501 shares of the company’s stock valued at $428,000 after acquiring an additional 464 shares during the period. Quarry LP grew its stake in shares of Skyward Specialty Insurance Group by 176.9% in the third quarter. Quarry LP now owns 1,376 shares of the company’s stock worth $56,000 after acquiring an additional 879 shares during the last quarter. State Street Corp increased its position in Skyward Specialty Insurance Group by 10.8% during the third quarter. State Street Corp now owns 844,233 shares of the company’s stock worth $34,386,000 after acquiring an additional 82,328 shares during the period. Finally, Two Sigma Advisers LP raised its stake in Skyward Specialty Insurance Group by 15.3% during the 3rd quarter. Two Sigma Advisers LP now owns 490,200 shares of the company’s stock valued at $19,966,000 after purchasing an additional 65,200 shares during the last quarter. 94.83% of the stock is currently owned by institutional investors.

Skyward Specialty Insurance Group Company Profile

Skyward Specialty Insurance Group, Inc, an insurance holding company, underwrites commercial property and casualty insurance products in the United States. It offers general liability, excess liability, professional liability, commercial auto, group accident and health, property, surety, and workers' compensation insurance products.